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Hong Kong's 'Stablecoin Bill' Officially Enacted
2 week ago /
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Author：小编
As of August 1, Hong Kong's 'Stablecoin Bill' has officially been enacted. This legislation is designed to introduce a licensing regime for issuers of fiat-backed stablecoins, thereby enhancing the regulatory framework governing virtual asset activities. The primary objectives are to uphold financial stability and foster financial innovation. Under the terms of the bill, relevant issuers must obtain a license from the Monetary Authority and adhere to a range of regulations, encompassing reserve management, redemption processes, anti-money laundering measures, and counter-terrorist financing controls.
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